Ionis Down Big on Analyst Miss
This week, Biogen (NASDAQ: BIIB) reported earnings, and Ionis Pharmaceuticals' (NASDAQ: IONS) stock sold off significantly on the news that its drug Spinraza, which Biogen helps commercialize, really missed the mark on its U.S. sales. Confused? Don't worry, you're not alone -- even industry watchers have trouble making sense of Ionis' business.
In this week's episode of Industry Focus: Healthcare, analysts Kristine Harjes and Todd Campbell break down what really happened with Spinraza this quarter, and why this dip in Ionis' market cap could be a buying opportunity for long-term investors. Also, the hosts look at Gilead Sciences' (NASDAQ: GILD) exciting new CAR-T approval for Yescarta, what's behind Celgene's (NASDAQ: CELG) $10 billion sell-off last week, and more.
A full transcript follows the video.
Source: Fool.com
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